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REGISTERED NUMBER: 06216327 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ABOUT COOLING LIMITED

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


ABOUT COOLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: M Knight





SECRETARY: A Freer





REGISTERED OFFICE: 266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA





REGISTERED NUMBER: 06216327 (England and Wales)





ACCOUNTANTS: UCS Accountants
266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,371 56,463

CURRENT ASSETS
Stocks 9,760 9,180
Debtors 5 445,669 326,701
Cash at bank and in hand 395,736 426,825
851,165 762,706
CREDITORS
Amounts falling due within one year 6 302,339 215,685
NET CURRENT ASSETS 548,826 547,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

619,197

603,484

CREDITORS
Amounts falling due after more than one
year

7

1,477

6,616
NET ASSETS 617,720 596,868

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 617,718 596,866
SHAREHOLDERS' FUNDS 617,720 596,868

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 February 2024 and were signed by:





M Knight - Director


ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

About Cooling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in pounds sterling, which is the functional currency of the company.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgement and estimates have been made include:

a - Critical judgements in applying accounting policies
There are no critical judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

b - Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no key estimates and assumptions that have significant potential impact upon the carrying values of assets and liabilities.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received.

However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents include cash in hand and at bank. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS
Motor Computer
Tools vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 9,315 92,107 9,169 110,591
Additions 512 30,990 - 31,502
At 31 May 2023 9,827 123,097 9,169 142,093
DEPRECIATION
At 1 June 2022 5,892 40,862 7,374 54,128
Charge for year 787 16,448 359 17,594
At 31 May 2023 6,679 57,310 7,733 71,722
NET BOOK VALUE
At 31 May 2023 3,148 65,787 1,436 70,371
At 31 May 2022 3,423 51,245 1,795 56,463

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 270,879 184,701
Tai Nui Properties loan 143,000 142,000
VAT 31,259 -
Prepayments 531 -
445,669 326,701

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 5,138 8,683
Trade creditors 180,848 72,519
Company credit card 2,379 2,714
Tax 22,454 40,256
Social security and other taxes 5,020 7,757
VAT - 9,256
Directors' current accounts 83,000 71,000
Accrued expenses 3,500 3,500
302,339 215,685

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 1,477 6,616

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
2 Ordinary Shares 1 2 2

9. RESERVES
Retained
earnings
£   

At 1 June 2022 596,866
Profit for the year 84,852
Dividends (64,000 )
At 31 May 2023 617,718

10. RELATED PARTY DISCLOSURES

Included in other debtors £143,000 represents loans made to Tai Nui Properties Limited in which Mr M Knight and Mrs L Knight are Directors directors and 100% shareholders.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Knight and Mrs L Knight.